Location: Wabash County, IN | Metro: Miami County, IN
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $131,537 | 0.77% | D |
| 3BR | $1,210 | $189,830 | 0.64% | D |
| 4BR | $1,360 | $234,150 | 0.58% | F |
| 5BR | $1,578 | $252,999 | 0.62% | D |
U.S. Census Bureau data (2024)
The classification of ZIP 46992, located in Wabash, Indiana, reveals a unique balance between yield and stability that can inform investment strategies.
On the yield axis, the data shows a significant opportunity. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960, while the local market rent is estimated at $752. This discrepancy suggests that properties in this ZIP code could potentially command higher rents than the current market average, aligning with the broader metro FMR. Additionally, the median home value of $178,958 provides a baseline for acquisition costs. Given these figures, an investor might anticipate a relatively high yield if they can position their rental rates closer to the metro FMR rather than the lower market rate.
Regarding stability, the indicators are mixed. With only 22.2% of the population being renters, the market has a smaller pool of potential tenants compared to areas with higher percentages of renters. This lower percentage could imply less demand for rental properties, which might affect vacancy rates and overall cash flow stability. However, the average household income of $66,220 offers a positive signal. Higher incomes generally correlate with better financial stability among tenants, reducing the risk of non-payment and improving the likelihood of maintaining steady cash flows.
The lack of available data on the number of days a property stays on the market (DOM) makes it challenging to assess the speed at which properties can be rented out. This metric would typically provide insight into how quickly an investment can start generating returns and how stable the rental market is in terms of rapid turnover.
In conclusion, ZIP 46992 leans towards a steady-cashflow zone due to the higher average income levels, which support tenant stability. However, the potential for higher yields exists, especially if investors can capitalize on the gap between the local market rent and the metro FMR. The relatively low percentage of renters does introduce some instability, but it's not enough to categorize the market purely as high-yield/low-stability. Investors should consider the balance between these factors when making decisions about property acquisitions and rental pricing strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.